Scottish actor McGregor has been awarded an Order of the British Empire (OBE) medal, while revered pop star Bush and Emin have both picked up Commander of the British Empire (CBE) accolades.
Blake, who is perhaps best known for his work on images for writer Roald Dahl's books, will be knighted in the New Year, as will cyclist Bradley Wiggins, who won the Tour De France in 2012 and then claimed gold at the Olympics.
Sir Paul McCartney's designer daughter Stella also makes the coveted list - she'll be awarded an OBE for her services to fashion, and London Olympics boss Ruth Mackenzie, former Prime Minister Tony Blair's wife Cherie and choreographer/dancer Arlene Phillips will also kneel for The Queen after landing CBEs.
Phillips tells the BBC she's "absolutely thrilled" by the honour, adding, "I haven't quite got used to it yet, but I'm very pleased about it."
Australian actor-turned-politician Michael Cashman has also been awarded a CBE, while actor Adrian Lester picks up an OBE and actress Siobhan Redmond receives an MBE (Member of the British Empire) for services to drama.